Thankyou for saying that. I am positive about this bid, and admittedly had not looked much at IGO but after seeing the strengths in their business I could see where they were weak and it was Nickel, both cost of production and resource life. Nickel is predicted to rebound hard just when IGO Nickel resources would be thinning right out. They needed Nova and were prepared to jump early I suspect to beat the suitors that may have wanted to play their hands closer to production date.
This is a perfect acquisition to make IGO a very well diversified business to exploit the commodity cycle. I've heard of brokers tipping SIR going to $5 and up to $10 once a producer hence why I believe nobody was going to get it cheaper. From what I know of SIR holders, if they are still in now, they will stay in with IGO to see their payday come at Nova.
SIR Price at posting:
$3.74 Sentiment: Buy Disclosure: Not Held
